Fee Schedule

BATS U.S. October 2011 Market Update

October 31, 2011

In this October 2011 edition of the BATS U.S. Market Update: 1. BATS Listings Launching in One Month 2. U.S. Equities Three Highest Market Share Months in Our History 3. BATS Options At an Inflection Point 4. BATS Europe Provisional Approval to Acquire Chi-X Europe 5. Market Volatility and Market Data Growth For complete details, please click on the title.

BATS BZX Exchange and BYX Exchange Routing Pricing Update Effective October 3, 2011

September 30, 2011

In response to a competitor pricing update, BATS BYX Exchange and BZX Exchange has updated October 3, 2011 routing pricing. For full details, please click on the title.

BATS Fee Schedule Update Related to Display-Price Sliding Enhancement Effective September 16, 2011 on BYX Exchange and Effective September 23, 2011 on BZX Exchange

September 09, 2011

As previously announced and pursuant to an approved rule filing, in September BATS BYX Exchange and BATS BZX Exchange will be introducing an enhancement to the behavior of Display-Price Sliding that has been designed to allow for more efficient and tighter markets at BATS. Please click on the title for more information regarding related Fee Schedule updates.

BATS BYX Exchange Announces Pricing Update Effective August 1, 2011

July 29, 2011

In response to a recent competitor pricing change, the August 1, 2011 pricing for BATS BYX Exchange has been revised.

BATS BZX Exchange Announces Pricing Update Effective August 1, 2011

July 29, 2011

In response to a recent competitor pricing change, the August 1, 2011 pricing for BATS BZX Exchange has been revised. Click the title for more information.

UPDATE: BATS BZX Exchange Pricing Effective July 1, 2011

June 30, 2011

In response to a recent competitor pricing update, the July 1, 2011 pricing has been revised. Please click the title for full details.

UPDATE: BATS BYX Exchange Announces Pricing Effective July 1, 2011

June 30, 2011

In response to a recent competitor pricing update, the July 1, 2011 pricing has been revised. Please click the title for full details.

Reminder: BATS BZX Exchange Pricing Effective July 1, 2011

June 29, 2011

Effective July 1, 2011, BZX Exchange will be making various pricing updates. For full details, please click on the title.

BATS BYX Exchange Announces Pricing Effective July 1, 2011

June 29, 2011

Effective July 1, 2011, BYX Exchange will be making various pricing updates. For full details, please click on the title.

BATS U.S. June 2011 Market Update

June 22, 2011

In this June 2011 edition of the BATS U.S. Market Update: 1. BATS BYX Exchange and BATS Options Both Have Experienced Early Success and are Still Growing 2. Improving Market Quality on the BATS BZX Equity Exchange - New Pricing Innovation Announced 3. Reminder: BATS BZX Exchange as a Primary Listing Exchange Coming later this Year 4. Reminder: BATS Latency Feed Innovation Continues For complete details, please click on the title.

BATS U.S. April 2011 Market Update

May 03, 2011

In this edition of the BATS U.S. Market Update, you'll find the following: 1. Limit Up/Down: Worth the Wait 2. NBBO Setter: Incenting the Right Behavior 3. BATS Options Continues Growth 4. Exciting New Initiatives - Listings and BATS Chi-X Europe 5. Monitor Your Performance For complete details, please click on the title.

BATS BYX Exchange Introduces NBBO Setter Program Effective May 2, 2011

April 25, 2011

BATS is pleased to announce that based on the success of the NBBO Setter Program in BATS Options, effective Monday, May 2, 2011 we will be implementing this program on the BATS BYX Exchange to allow members the opportunity to add liquidity for free. Click on the title for more information.

BATS U.S. March 2011 Market Update

April 01, 2011

In this edition of the BATS U.S. Market Update, you.ll find the following: 1. Limit Up/Down . The Right Long-Term Response to May 6, 2010 2. BATS Options . Growing at BATS Speed Eclipsing 4% Market Share; New Fee Schedule April 1 3. BATS BYX Exchange . Another Record Month 4. BATS Technology . Still Getting Faster For complete details, please click on the title.

BATS BYX Exchange Continued Growth and New Pricing Effective March 1, 2011

February 24, 2011

Highlights: 1. BYX Exchange Rapid Growth Continues 2. BYX Exchange Routing One Under/Better Pricing Expanding to BYX+EDGA 3. BYX Exchange Smart Routing Pricing Getting More Aggressive 4. BYX Exchange Introducing a Tier for Liquidity Adders 5. BYX Exchange Fee Change to Add Entirely Hidden Liquidity For complete details, please click on the title.

BATS U.S. January Newsletter

January 18, 2011

Dear BATS Customers and Members of the Trading Community, In this edition of the BATS U.S. Market Update, youll find the following: 1. BATS Options ... NBBO Setter Rebates Take Off 2. Improving Options market structure 3. BYX Exchange moving forward 4. BZX + BYX SOR Routing Strategies Priced at $0.0028, the industry's lowest route rate 5. Faster Access and Latency Monitoring 6. BATS Real Time Latency Monitoring Service - New Offering February 1, 2011 For complete details, please click on the title.